A micromobility company spun out of Rivian raises $150 million in a new funding round, according to multiple reports. The financing is intended to support the company’s expansion beyond its current focus on pedal-assist electric bikes and commercial cargo quads.
The round is led by Prysm Capital, and is described as a Series D. The Next Web reports that the company is valued at more than $1 billion as part of the transaction. While TechCrunch frames the raise as funding growth into autonomous delivery vehicles, The Next Web emphasizes that the e-bike business is positioned as an entry point toward a broader goal of building small autonomous vehicles.
Both outlets agree the company plans to use the new capital to pursue autonomous delivery rather than to deepen reliance on e-bikes alone. The reporting centers on the fundraising details and the company’s stated direction, with no additional information about product timelines, regulatory status, or partnerships in the excerpts provided.
